Canada optimistic about concluding trade talks with India by year-end, minister says

Canadian Trade Minister Maninder Sidhu expressed optimism on Saturday about wrapping up negotiations for a comprehensive economic partnership agreement with India by year-end. Prime Minister Mark Carney had previously mentioned during a March trip to New Delhi that the two nations aimed to finalize a free trade pact by the end of the year. Sidhu conveyed his strong confidence during a visit to Mumbai, stating, "I'm feeling very, very optimistic and energetic that we can get it done in the coming months."

Negotiations are expected to involve Indian trade delegations visiting Canada next month, with potential bilateral meetings between leaders from the two countries occurring during the G-20 summit in December. Sidhu highlighted the energy sector as a key area of focus, noting Canada's ongoing liquefied natural gas (LNG) export facility project initiated by Shell last year and the presence of five additional projects in various development stages.

Canada is actively engaging Indian firms to explore opportunities for investment and securing supply within these projects.

Beyond LNG, both countries are keen on expanding cooperation in nuclear energy, with India aiming to significantly increase its capacity. Sidhu emphasized Canada's extensive history in the nuclear industry and the potential benefits for Canadian companies in aiding India's supply chain development. Additionally, several large Indian businesses, including Reliance Industries, Mahindra and Mahindra, and the JSW Group, are reportedly considering investments in critical mineral projects in Canada.

Sidu stressed the importance of co-investments as global supply chains face increasing scrutiny and potential weaponization.